Bronx School Site at 1000 Walton Gets a $45M Bank Loan
The new loan is 1.9 times the $24M deed price and about $530 per square foot of the existing 84,920 sq ft building.
A $45 million Metropolitan Commercial Bank mortgage was recorded Oct. 1 on the former All Hallows High School building at 1000 Walton Avenue in the Bronx, a site its borrower bought for $24 million less than a year ago. The loan is larger than the three Webster Bank mortgages totaling $37.37 million that were recorded with the deed.
Why it matters
The mortgage, dated Sept. 24, names BMAD Walton LLC as borrower and comes with a matching assignment of leases, which lenders take when a building has tenants or a lease to a school operator. The Nov. 12, 2025 deed paid All Hallows Institute $24,000,000, and three Webster Bank mortgages of $19,430,091, $12,760,393 and $5,179,512 went on the lot the same day. The new loan is about $7.63 million above that stack and 1.9 times the purchase price. The records do not say how the money will be used or whether it paid off Webster.
The numbers
City PLUTO data lists an 84,920 square foot, four-story building from 1931 on 37,100 square feet of land, zoned R8 with a 6.02 residential floor area ratio. At $45 million the loan is about $530 per square foot of the existing building. Trade press, including Traded, tied the 2025 purchase to Azimuth Development Group and reported plans to convert the building into a school for AECI Charter Schools Network. The lender has history with that kind of asset: Commercial Observer reported that Metropolitan Commercial Bank gave Barone Management $32 million for two Queens charter school buildings in 2021. The records name only the LLC. Its BMAD prefix matches BMAD Bartholdi LLC, the seller of the school site we covered in Equality Charter School’s $67.8M bond loan, but the deed and mortgage do not name the people behind it. See more in our New York coverage.
What’s next
We found no DOB NOW job filing on the lot, so the school conversion has not reached the city’s permit system. A filing would show the scope, and a satisfaction of the Webster mortgages in ACRIS would confirm this loan was a refinance. Watch the lot for both.
On the record
What we checked ourselves, and where you can check it too.
- Public recordACRIS mortgage 2026093001115001 and a matching assignment of leases (2026093001115002) put $45,000,000 from Metropolitan Commercial Bank on 1000 Walton Avenue, Bronx block 2471 lot 1, dated Sept. 24 and recorded Oct. 1, 2026, with BMAD Walton LLC as borrower.View the record on a836-acris.nyc.gov
- Public recordThe same borrower recorded three Webster Bank mortgages of $19,430,091, $12,760,393 and $5,179,512 on Nov. 12, 2025, the day the $24,000,000 deed from All Hallows Institute was recorded. They total $37,370,000, so the new loan is $7.63M larger.View the record on a836-acris.nyc.gov
- Public recordCity PLUTO lists an 84,920 sq ft, four-story educational building from 1931 on 37,100 sq ft of land, zoned R8 with a 6.02 residential FAR. The new loan works out to about $530 per sq ft of the existing building.View the record on zola.planning.nyc.gov
Sources
- NYC ACRIS, mortgage document 2026093001115001Mortgage, $45,000,000, BMAD Walton LLC to Metropolitan Commercial Bank, dated Sept. 24, recorded Oct. 1, 2026
- NYC ACRIS, assignment of leases 2026093001115002Assignment of leases and rents, $45,000,000, BMAD Walton LLC to Metropolitan Commercial Bank
- NYC ACRIS, deed document 2025110600771001Deed, All Hallows Institute to BMAD Walton LLC, $24,000,000, recorded Nov. 12, 2025
- NYC ACRIS, Webster Bank mortgage 2025110600771003Mortgage, $19,430,091, BMAD Walton LLC to Webster Bank, recorded Nov. 12, 2025 (companions 771005 and 771007)
- NYC PLUTO (ZoLa), Bronx block 2471 lot 11000 Walton Avenue, class W2, 84,920 sq ft on a 37,100 sq ft lot, zoned R8, built 1931
- TradedGuido Subotovsky Of Azimuth Development Group Acquires Development Site On Walton Avenue For $24M